In a newly published reportCoinShares discovered that Uniswap UNI token led the pack of altcoins that saw inflows in the last week with a total inflow of $100,000.
All altcoins reviewed by Coinshares saw inflows totaling $3.9 million last week, with UNI contributing a 3% share of the total sum.
Coinshares reported that the past week was marked by minor outflows, amounting to $17 million withdrawn by investors.
While noting that the outflows were spread across various digital assets, he further stated that the recorded outflows occurred in a period where the cryptocurrency market suffered from low trading volume despite the rise in crypto asset prices.
This, according to Coinshares, could mean that investors have started to make a profit.
Investors say goodbye to Bitcoin
Recording $21 million in outflows, Bitcoin led with the most outflows in the past week, according to the report. That was the second straight week of outflows for the leading coin, taking its month-to-date (MTD) outflows to $29 million.
Additionally, recorded outflows brought year-to-date (YTD) inflows for the king coin to $291 million, a 5% decrease from the $311.9 million YTD index recorded in the previous week.
On the other hand, short Bitcoin broke its two-week outing streak by recording $2.6 million as inflows in the last week. Posting mostly outflows since the month began, the asset has posted a MTD outflow of $4.9 million.
On YTD, it had seen entries totaling $91.4 million at the time the report was prepared.
What about the alternatives?
According to Coinshares, the set of altcoins it considered saw inflows totaling $3.9 million in the period under review. Uniswap’s UNI led the pack with a total inflow of $100,000.
Although small, Coinshares found that compared to its total assets under management of $1.3 million, last week’s inflow represented 6.6% of the total sum.
According to data from CoinMarketCap, in the last seven days, the price per UNI token decreased by 5%. At the time of writing, the leading native DEX token was trading at $8.31.
Comparing the performance of digital assets to blockchain stocks, Coinshares, in its report, stated:
“In contrast to direct digital assets, blockchain stocks saw inflows totaling $8 million last week, signifying an improvement in sentiment. Though $15.5m inflows so far this year means lukewarm sentiment at the moment.”
On a regional level, “the flows reveal that opinions are divided,” Coinshares found. Inflows on European exchanges totaled $20 million, while outflows of $36 million were recorded on (North and South American exchanges).